KARACHI: The Pakistan Stock Exchange on Friday closed week on positive note as the benchmark 100-index added 70.68 points to take the tally to 45560.30 level.
The stocks recorded the highest trading level of 45604.59 points and lowest level of 45391.71 points, with the volume of 230 million shares and value of Rs9.46 billion. As many as 357 companies were active; of which 146 advanced, 194 declined and 17 remained unchanged.
K-Electric was the volume leader with 23.82 million shares, adding Rs0.02 to reach Rs7.01. It was followed by TRG Pak Ltd with 22.46 million shares, losing Rs1.84 to end at Rs36.36 and Engro Polymer with 21.83 million shares, adding Rs1.32 to close at Rs35.65.
The top three gainers were Rafhan Maize with price per share of 8300 (200), Unilever Foods with price per share of 9895 (195) and Bata (Pak) of 2847.50 (64.43).
The top three losers were Pak Tobacco with price per share of 1956.33 (-102.57), Philip Morris Pak with price per share of 2900 (-82.87) and Island Textile share of 813 (-42).
The PSX started day on bullish note and gained 85 points to reach 45574 level in early trading. The stocks remained bullish till midday as the benchmark added 59 points to reach 45548 level.
Yesterday, the stocks continued its positive momentum due to easing political noise and closed up 316.63 points at 45,490 points. Stability in crude oil prices and recent rupee devaluation also led to interest in E&P stocks, which contributed 64 points to the index.
TRG Pakistan closed at its lower lock, as company intimated exchange regarding postponement of its subsidiary’s (IBEX Holdings) Initial Public Offering (IPO) due to volatility in market. The K-Electric (KEL) remained volume leader with traded volume of 51m shares after reissuance of intention of acquisition by Shanghai Electric.
Market participation in terms of volumes traded improved by 20 percent. Similarly, value went up by 13 percent. Top five stocks UBL (+2 percent ), OGDC (+1.4 percent ), LUCK (+1.4 percent ), PAKT (+4.9 percent ) & HUBC (+1.5 percent ) added 147 points to the index gain whereas stocks including TRG (-5 percent ), HBL (-0.4 percent ), DAWH (-1.3 percent ), SNGP (-0.7 percent ) & PIBTL (-1.4 percent ) withheld 52 points from the index.
